Swedbank AB Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Swedbank AB lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 212,137 shares of the financial services provider’s stock after buying an additional 855 shares during the period. Swedbank AB’s holdings in The PNC Financial Services Group were worth $39,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $12,548,000. Integrated Advisors Network LLC grew its position in shares of The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after buying an additional 148 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Equity Investment Corp grew its position in The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP grew its position in The PNC Financial Services Group by 108.5% during the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $189.92 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a fifty day moving average price of $180.07 and a 200 day moving average price of $166.78. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $196.64. The stock has a market cap of $75.57 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $3.60 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. Citigroup boosted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $185.71.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock worth $4,442,555 in the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.